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Mortgage PPI
gillholiday_2
Posts: 3 Newbie
I took out a PPI in just my own name on a joint mortgage. I was the only one who could claim on that policy. I am now divorced. My mortgage lender has offered me a settlement but states that half of the money should go to my ex husband. This does not seem right as it was me who was mis-sold the policy and not my ex-husband. Is there anything I can do?
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Comments
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I have been offered a settlement by my mortgage provider. If I accept this and then think that the decision is not right, can I go to the Financial Ombudsman?0
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My mortgage lender has offered me a settlement but states that half of the money should go to my ex husband. This does not seem right as it was me who was mis-sold the policy and not my ex-husband. Is there anything I can do?
When it is the lender own product, the redress normally follows the status of the mortgage. i.e. sole mortgage, then the sole borrower gets the redress or joint mortgage then both get a share of the redress.
When it is a standalone plan arranged via an intermediary, then the redress normally follows the policyholder.I have been offered a settlement by my mortgage provider. If I accept this and then think that the decision is not right, can I go to the Financial Ombudsman?
No. you either accept it or you reject it.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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